PayNearMe launches mobile cash payment service

New mobile cash payment system

Cash transaction network PayNearMe is launching its new mobile cash payment system to enable the cash preferred to use their mobile phones for payments (view press release). The solution is initially being rolled out with early adopters Greyhound and Progreso Financiero. Through the system, merchants can offer their customers mobile cash payments by rendering a barcode on their mobile browsers which can be scanned at participating POS locations, such as 7-Eleven stores, enabling the consumer to repay loans, pay bills, or buy goods and services such as Greyhound bus tickets.

PayNearMe claims to have seen over 30% monthly compounded growth in transaction value since the company launched 16 months ago.   

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